IndiaMART.com keen to enhance online B2B market trust

IndiaMART.com is close to finalising discussions that will integrate SGSonSITE services onto their portal in order to promote trust in the on-line B2B marketplace.

IndiaMART.com, the pioneer in promotion of Indian B2B segment globally on the Net, will integrate quality services of the SGS Group (Société Générale de Surveillance, Geneva) -the world-wide leader in inspection, testing and certification services for rating of Indian suppliers and exporters listed on its site.

Advantages to buyers:
» Reduce the risk of transaction failure by allowing buyers to make informed choices about products and vendors
» Receive product samples drawn independently by SGS from vendors listed on IndiaMART.com
» Review product specification sheets and order product inspections prior to shipment

The ratings, along with other services like vendor verification, product sampling and inspection offered by the alliance will help buyers and importers dealing with Indian suppliers and exporters make informed purchasing decisions based on vendor reliability, thereby promoting trust in the on-line B2B marketplace.

According to Dr Bill Spencer, Director (Global Marketing and Partnerships, SGS Group), “The alliance will offer a major marketing boost to the businesses listed with IndiaMART, in addition to the trust and confidence it will generate in the online B2B marketplace.”

Expressiong satisfaction at the tie-up, CEO of IndiaMART- Mr Dinesh Agarwal said “We have over 70,000 businesses in our database under hundreds of categories, which are accessed by thousands of buyers and importers every month from almost every corner of the globe. The key factor about doing business is trustworthiness, particularly in case of international trading, he explained, adding that rating of vendors and suppliers by a world class verification body like SGS will build a high degree of trust in the minds of the buyers. It is a sign of maturity in a marketplace when the businesses involved seek verification by a recognized body,” he pointed out.

IndiaMART.com, established in 1996, is the oldest and the largest Indian B2B portal offering a virtual marketplace for businesses to flourish through highly cost effective on-line media. IndiaMART.com today fetches well over 3.5 million pageviews generating thousands of business queries each month. Nominated for the BIG (Britannica Internet Guide) awards (August 2000), IndiaMART.com has been declared to be the best Indian B2B portal by bestindiansites.com and enjoys a place amongst top ten sites.

The SGS Group, on the other hand, is the global leader in verification, testing and certification, which acts as an independent “third party” providing assurance in on-line transactions by offering Safe Internet Trading Environment (SITE) services. The group, utilising its world-wide verification and reporting network of 850 offices, is able to provide its comprehensive range of services in more than 140 countries.

These services offer the following benefits to the participants in online transactions:

SGS Services for eBusiness@IndiaMART include:

1. SGSonSITE Rating: SGS conducts independent assessment of the vendors’ ability to meet agreed buyers requirements and rates the vendors depending on assessment scope and results. Vendors can use these ratings to differentiate from non-rated members
2. SGSonSITE.SpecSheets: Product specifications are verified by SGS and reported on IndiaMART. Vendors can use the sheets as independent evidence of the quality of their products
3. SGSonSITE.Sampling: SGS visits vendors and independently draws product samples before listing on IndiaMART, and then ensures that the same are available for immediate dispatch to buyers around the world. Buyers can obtain an independently drawn sample prior to making a purchase decision
4. SGSonSITE.Visual Inspection: After a buyer and vendor have agreed to transact, SGS can conduct inspection of goods that are ready for shipment as per the order specifications.